Government plans to introduce Direct Tax Code and GST from April 2011

Shri Pranab Mukherjee, Union Finance Minister, while presenting the Union Budget in Lok Sabha today, said that the wide-ranging discussions on the Direct Tax Code (DTC) with stakeholders have been concluded and the government will be in a position to implement the DTC from April 1, 2011.

The Minister also informed the House that the Union Government is actively engaged with the Empowered Committee of State Finance Ministers to finalise the structure of Good and Services Tax (GST) as well as the modalities of its expeditious implementation. The government will endeavour to introduce GST by April 2011, the Minister added.

Source : Equity Bulls

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